Richard S. Danforth - 26 May 2023 Form 4 Insider Report for Genasys Inc. (GNSS)

Role: CEO
Signature: /s/ Dennis D. Klahn as attorney-in-fact for Richard Danforth
Issuer symbol: GNSS
Transactions as of: 26 May 2023
Net transactions value: -$206,675
Form type: 4
Filing time: 31 May 2023, 16:20:09 UTC
Previous filing: 11 Oct 2022
Next filing: 09 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GNSS	Common stock	Options Exercise	$1,565,627	+786,747	+12104%	$1.99	793,247	26 May 2023	Direct
transaction	GNSS	Common stock	Tax liability	$1,772,301	-639,820	-81%	$2.77	153,427	26 May 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GNSS	Stock options	Options Exercise	$0	-224,247	-60%	$0.000000	150,753	26 May 2023	Common stock	224,247	$1.99	Direct	F1
transaction	GNSS	Stock options	Options Exercise	$0	-562,500	-100%	$0.000000^*	0	26 May 2023	Common stock	562,500	$1.99	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Grant to reporting person on August 1, 2016 of an option to purchase 375,000 shares. The option vested as to 1/3 of the shares on August 1, 2017 and 1/12 of the shares quarterly thereafter until fully vested.
F2	On August 1, 2016, the reporting person was granted an option to purchase shares of common stock that vested based upon Genasys achieving specified performance targets for its fiscal years ended September 30, 2019 and September 30, 2020. Genasys' performance for fiscal year 2019 resulted in the vesting of options to purchase 187,500 shares and Genasys' performance for fiscal year 2020 resulted in the vesting of options to purchase 375,000 shares.

Content

Grant to reporting person on August 1, 2016 of an option to purchase 375,000 shares. The option vested as to 1/3 of the shares on August 1, 2017 and 1/12 of the shares quarterly thereafter until fully vested.

On August 1, 2016, the reporting person was granted an option to purchase shares of common stock that vested based upon Genasys achieving specified performance targets for its fiscal years ended September 30, 2019 and September 30, 2020. Genasys' performance for fiscal year 2019 resulted in the vesting of options to purchase 187,500 shares and Genasys' performance for fiscal year 2020 resulted in the vesting of options to purchase 375,000 shares.